PM in eurozone bank debts pledgeThe Press AssociationDavid Cameron has pledged he will not ask British taxpayers to underwrite the debts of ailing banks in Greece and Spain as he held talks with German chancellor Angela Merkel about the eurozonecrisis. The Prime Minister said he had "no doubt" that the ...

George Osborne 'optimistic' over eurozone crisisThe IndependentChancellor George Osborne today said he is "optimistic" a solution will be found to the latest crisis in the eurozone, as David Cameron arrived in Berlin for talks on the single currency with Germany's Angela Merkel. Mr Osborne said that the eurozone ...

Merkel urges gradual political union in EuropeBusinessWeekExperts say the eurozone's structure is not sustainable because while 17 countries share the same currency and interest rates, national governments retain control of budget policies. That means economies are radically different.

ABB Girds for Euro-Zone TurmoilWall Street Journal (blog)By John Revill ZURICH — ABB Ltd., one of Europe's largest engineering groups, is increasingly choosy about which European banks it entrusts with its money as fears grow about a Spanish banking collapse and Greece's possible exit from the euro zone.

It's your job to fix crisis, ECB tells governmentsReutersIncreasingly alarmed by signs Spain's banking crisis is opening a new front in the debt crisis, some in financial markets had hoped Draghi would signal a readiness for the ECB to take fresh action ifeuro zone governments take bolder action.

Euro crisis, 'fiscal cliff' menace US economy: FedAFPMoreover, the economy remains vulnerable to two potential shocks: the eurozonecrisis and the year-end "fiscal cliff." The eurozone turmoil has already strained global financial markets, and it has pushed a cloud over US consumer and business ...AFP

Merkel: We're Ready to Help Stabilize EurozoneFox BusinessChancellor Angela Merkel underlined Germany's readiness to use all instruments to maintain stability in the euro zone on Thursday, fuelling expectations that Spain may soon decide to seek help for its banks beset by bad debts. Speaking after talks with ...

German MPs pave way for fiscal pact, ESM approvalReutersIt would be embarrassing if Germany, which as euro zone paymaster dictates much of its crisis response, missed the deadline, though it would only cause technical problems if the delay was significant, analysts say. TAX PURSUED, DEBT PLAN DROPPED With ...

Merkel Urges Greater European IntegrationVoice of AmericaLONDON -- German Chancellor Angela Merkel says Germany has the political will to ensure the stability of the eurozone. The German leader spoke alongside British Prime Minister David Cameron, who pressed for “urgent action” on the debt crisis.Voice of America

Bank Sees Stronger Euro After Greece, Others ExitWall Street JournalBy DAVID GEORGE-COSH, KAREN JOHNSON and DON CURREN TORONTO--The crisis in the euro zone will likely force some countries to "bite the bullet" and leave the euro while a stronger core of central European countries will continue to use the currency, ...

Time to start throwing money at euro crisisMarketWatchBy Darrell Delamaide WASHINGTON (MarketWatch) — Watching European officials muddle through the euro crisis, we don't know, as longtime CBS anchor Dan Rather used to say, “whether to wind the watch or to bark at the moon.” As European officials discuss ...

George Osborne: eurozone is facing 'a moment of truth'Telegraph.co.ukThe Chancellor says that whilst the eurozone faces "a moment of truth" he is adamant British taxpayers will not contribute to any Spanish bank bail-out. Speaking ahead of Prime Minister David Cameron's talks with German leader Angela Merkel later today ...

Spain's hurting banks at heart of eurozone chaosFox NewsBailing out Spain itself would likely stretch the eurozone's finances to the breaking point because the Spanish economy is the fourth largest in the 17-country eurozone, behind Germany, France and Italy. A full-blown Spanish bailout including its ...

Merkel insists on two-speed EuropeFinancial TimesBy Gerrit Wiesmann in Berlin Angela Merkel said a core group of states needs to press on with European integration to fight the eurozone crisis, a rebuke to David Cameron, UK prime minister, who has called for more short-term crisis measures.

Act now on euro crisis, Obama urgesThe AustralianUS President Barack Obama has called British, German and Italian leaders to press the case for Europe to come up with an "immediate plan" to resolve the widening eurozone debt crisis. Mr Obama, facing re-election in November and concerned that Europe's ...

David Cameron 'must seize the opportunity of eurozone crisis'Telegraph.co.ukDavid Cameron must seize the “perfect opportunity” of the eurozone crisis to negotiate a “radically different” British relationship with the European Union, Conservative MPs declare today. By James Kirkup, Deputy Political Editor As the Prime Minister ...

UK wants safeguards if euro zone forges bank unionReutersLONDON, June 7 (Reuters) - Britain will demand safeguards to protect its financial sector if the euro zone forms a banking union, its finance minister said on Thursday, placing another obstacle in front of the European Central Bank's efforts to fix a ...

Econbrowser: The Euro Zone Crisis: Political and Economic ...By Menzie ChinnThe euro zone was not, and still is not, an optimal currency zone. This was known as early as the early 1990's, as highlighted by this table from a 1994 paper by Tamim Bayoumi and Barry Eichengreen: ez1.png. The table is of correlations of ...Econbrowser

Most Germans expect euro crisis to get worse - The LocalNearly four out of five Germans expect the eurozone debt crisis to get much worse before it gets better but a majority still believes the single currency will survive, a poll indicated on Thursday.The Local - Germany's news in English

ECB stuck in morass of euro zone inaction - Analysis & Opinion ...By Pierre BrianconThe central bank wants governments to make the next big move to address the euro crisis. But the ECB is itself paralysed by an internal conflict, between the demands of Germany and the needs of other governments. So it is left fiddling while ...Breakingviews

SENIOR CHINESE BANKER: EURO-ZONE IS ... - The Astute BloggersBy ReliapunditThe comments by CIC Chairman Lou Jiwei are among the most bearish pronouncements yet on Europe by a senior Chinese official. They reflect growing dismay in Beijing at how European leaders are handling the escalating crisis in China's ...THE ASTUTE BLOGGERS

UPDATE 2-UK wants safeguards if euro zone forges bank union - XEBritain will demand safeguards to protect its financial sector if the euro zone forms a banking union, its finance minister said on Thursday, placing another obstacle in front of the European Central Bank's efforts to fix a deepening debt crisis.XE Forex News